December 2016 ~ 7 County Premiere Market Homes Sold Between $500,000 And $749,999

 

Posted by Damon L. Chavez on Friday, December 16th, 2016 at 10:27am.

Market Metrics:

By the numbers, the inventory of available homes for sale is 1,070 at month end, 515 homes came onto the market, 387 homes were placed under contract, and 543 homes closed between $500,000 and $749,999 with an average sold price of $594,834 resulting in a closed dollar volume of $323.0 Million.

Monthly Market Recap:

.                                                                       Single Family                          Condo

Active Listings at Month End                       804                                           266

New Listings                                                    421                                            94

Under Contract                                               328                                            59

Number Sold                                                   454                                             89

Average Sold Price                                        $594,638                                  $595,836

Closed $ Volume                                            $269.9 Million                        $53.0 Million

Lowest Sold Price                                           $500,000                                 $500,000

Highest Sold Price                                          $749,900                                  $745,000

Average Price/Square Foot (Above Ground)    $268                                  $344

Average Price/Square Foot (Total)                 $171                                      $308

Sold Price as % of List Price                            98.53%                                  98.84%

Average Days on Market                                   66                                            98    

Of the 454 Single Family homes sold, the highest priced closing for the month was $749,900 representing 5 Bedrooms, 5 Bathrooms, and 3,586 above ground square feet.

Of the 89 Condo homes sold, the highest priced closing for the month was $745,000 representing 2 Bedrooms, 3 Bathrooms, and 2,270 above ground square feet.

Year-to-Date Market Recap with Year Over Year % Comparisons:

                                                                         Single Family                            Condo             

Number Sold                                                     5,888                (↑27%)             873                   (↑14%)

Average Sold Price                                           $592,070          (↔)                  $598,162            (↓1%)

Closed $ Volume                                               $3.5 Billion      (↑28%)            $522.2 Million    (↑12%)

Lowest Sold Price                                             $500,000                                   $500,000

Highest Sold Price                                            $749,900                                   $749,000

Average Price/Square Foot (Above Ground)    $263                                      $337

Average Price/Square Foot (Total)                     $173                                       $299

Sold Price as % of List Price                              99.20%           (↔)                    98.90%           (↔)

Average Days on Market                                    57                  (↔)                    116                 (↑9%)

Six Thousand Seven Hundred Sixty One (6,761) homes closed YTD November 30, 2016 between $500,000 and $749,999 with an average sold price of $592,857 resulting in a closed dollar volume of $4.0 Billion.

The above representation covers a seven (7) county area including the counties of Adams, Arapahoe, Broomfield, Denver, Douglas, Elbert, and Jefferson.

The above representation may or may not reflect all real estate activity in the market.

Source of the data:  REcolorado.com – December 3, 2016